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Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
Ukafs salary guide2011_print
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Ukafs salary guide2011_print

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  • 1. CONTENTS.CHIEF OPERATIONS OFFICER’S LETTER 2 ADVISORY SERVICES 21 CORPORATE FINANCE & RECOVERY 23 TAXATION 24COMMERCE & INDUSTRY 3HIRING MARKET UPDATE 4 PUBLIC SECTOR 25ACCOUNTING & FINANCE – PERMANENT: HIRING MARKET UPDATE 26 LARGE COMPANIES 5 PUBLIC SECTOR 27 SMEs 7ACCOUNTING & FINANCE – TEMPORARY: BUSINESS SUPPORT 30 LARGE COMPANIES 9 HIRING MARKET UPDATE 31 SMEs 11 OFFICE SUPPORT 32SHARED SERVICES 14 SALES & MARKETING 35INTERNAL AUDIT 15 HUMAN RESOURCES 36TAXATION 16 UNDERSTANDING THIS GUIDE 37PROFESSIONAL SERVICES 18 HIRING MARKET UPDATE 19 TALK TO US 38 AUDIT & INSURANCE 20
  • 2. Confidence has returned to the professional services jobs market and there has beenCHIEF increased hiring activity across all disciplines. There has been a lift in demand for qualifiedOPERATIONS ACAs and CTAs for audit and tax roles respectively, and compliance and advisory services are also tipped as key growth areas.OFFICER’S Welcome to Morgan McKinley’s Hiring trends vary within the public sector. Not- UK Salary Guide 2011: for-profit companies have been resilient andLETTER. Accounting, Finance & Support there have been limited cutbacks within the larger housing associations. Government, NHS and education have, unfortunately, been the This report provides insight into current salary and hardest hit due to general cost cutting, mergers hiring trends for accounting, finance and support and cessation of funding streams. professionals working in commerce and industry (C&I), professional services and the public sector. Increased demand for support services professionals is often a good indicator of These are clearly diverse markets but overall, the economic recovery. It is therefore heartening recruitment outlook is much more positive than at that we forecast hiring activity in this space to the same time last year. Our market knowledge, rise by 10-15% in 2011. These roles are and anecdotal evidence from our clients, points to becoming more diverse and support staff are 10-20% growth in hiring activity across the board in now often called upon to assist with value- 2011. Although this is a pleasing forecast, hiring adding marketing or HR projects. levels are still relatively suppressed when compared to pre-recession data. This year should also see a continued rise in temporary and interim hiring. More and more The C&I, professional services and public sector companies are hiring contractors to undertake recruitment markets felt the effects of the global specific projects, provide extra resources during financial crisis in H2 2009, around 12 months after busy periods or maintain a flexible workforce the financial services sector. It is a similar scenario during times of uncertainty. The perception is with market recovery; while last year saw a that contractors can ‘hit the ground running’ and rebound for financial services, it is predicted that produce rapid, strategically-enhanced results. 2011 will be the year of measured growth for C&I, professional services and the public sector. We hope you find this salary guide informative. If you have any questions or feedback, please Recent statistics published in Accountancy state feel free to contact me or any of my colleagues that 58% of FTSE 100 companies are now led by here at Morgan McKinley. an accountant or finance specialist. This year will see significant emphasis on finance professionals Chris Leeson at all levels, as companies work to meet top line Chief Operations Officer sales targets while protecting their bottom lines. Accounting, Finance & Support Commercially-minded finance professionals with United Kingdom skill sets that concentrate on analysis and financial T: +44 (0)20 7092 0078 integrity will be in high demand. E: cleeson@morganmckinley.co.uk 2
  • 3. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE 3
  • 4. COMMERCE & INDUSTRY.HIRING MARKET UPDATELONDON HOME COUNTIES BRISTOL, CHELTENHAM LEAMINGTON SPA & MIDLANDSThere was a significant rise in accounting The Home Counties hiring market wasand finance hiring activity in London changeable moving into 2011. Despite 2010 proved to be as challenging a yearduring H2 2010, particularly within the the Government’s planned spending as 2009 with companies still cautious toretail, leisure and FMCG sectors. cuts, there was clear evidence that hire, particularly at the permanentProfessionals with commercial decision headcount expansion plans were still on qualified level. In the same vein,support experience were particularly the agenda for many businesses. As a candidate supply continued to be shortsought after within these markets. Job local finance recruiter, we saw more as most professionals ‘sat tight’ in theirvacancies at the part/newly qualified emphasis placed on finance roles that permanent roles. In Q1 2011, there waslevel continued to rise as companies support strategic growth and renewed confidence in the market acrossimplemented more cautious recruitment development of businesses. the South-West and through to thestrategies and generally opted to fill Midlands. The finance jobs market has A large number of companies have beensenior vacancies internally. begun to recover at a steady pace in seeking professionals with skill sets that terms of both the amount of recruitmentThe outlook for 2011 is cautiously concentrate on analysis and financial that is taking place and also theoptimistic. In fact, there was a 20% integrity. The market is still highly availability of accounting and financeincrease in senior accounting and competitive and professionals need to professionals.finance hiring in Q1 2011 compared to have a commercial focus and be willingQ4 2010, with new job vacancies to support the flow of financial In particular, demand for part-qualifiedspanning group, financial accounting and information to the whole business. and qualified accountants for interimcommercial finance. It is anticipated that Although recruitment budgets remain roles is firmly on the rise. Salary levelsthere will be increased movement in the quite tight, more movement is expected were stagnant in 2010 but have startedmarket in the coming quarters as during 2011, especially by those to increase again in 2011.professionals who had put their job professionals who were dissatisfied with Tara Heath-Arnoldsearches on hold during the economic their 2010/11 bonus payouts. +44 (0)117 944 0600turmoil of 2008/09 start to explore new Stuart Duncan theath-arnold@morganmckinley.co.ukcareer opportunities. +44 (0)175 320 1457Tracy Sinclair sduncan@morganmckinley.co.uk+44 (0)207 092 0080tsinclair@morganmckinley.co.uk 4
  • 5. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE (Large companies*)PERMANENT BASIC SALARIES (PER ANNUM)Role: London Home Counties Bristol, Cheltenham, Leamington Spa & MidlandsChief Financial Officer £150k - £400k £150k - £400k £120k - £350kFinancial Director £100k - £250k £100k - £250k £80k - £200kFinancial Controller £70k - £100k+ £60k - £85k £50k - £80kFinancial Planning Analysis Manager £60k - £90k £50k - £70k £50k - £65kFinance Manager £50k - £60k £45k - £55k £40k - £60kBusiness Analyst £45k - £52k £40k - £48k £30k - £50kFinance Analyst £45k - £52k £40k - £48k £30k - £50kSystems Accountant £45k - £60k £40k - £60k £40k - £50kGroup Accountant £50k - £65k £45k - £60k £40k - £50kFinancial Accountant £45k - £52k £40k - £52k £40k - £45kManagement Accountant £45k - £52k £40k - £52k £40k - £45kACA top 10 newly qualified £45k - £50k £42k - £50k £35k - £45kACA non-top 10 newly qualified £42k - £48k £42k - £48k £35k - £40kACMA newly qualified £45k - £50k £42k - £48k £30k - £35kACCA newly qualified £42k - £48k £42k - £48k £30k - £35k*Large companies – 500+ employees 5
  • 6. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE (Large companies)PERMANENT BASIC SALARIES (PER ANNUM)Role: London Home Counties Bristol, Cheltenham, Leamington Spa & MidlandsSystems Accountant PQ / Finalist £35k - £45k £30k - £40k £30k - £35kProject Accountant £33k - £40k £30k - £35k £30k - £35kBusiness Analyst PQ / Finalist £33k - £45k £30k - £40k £28k - £35kFinancial Analyst PQ / Finalist £28k - £40k £30k - £40k £28k - £35kManagement Accountant PQ / Finalist £33k - £40k £30k - £40k £28k - £35kAssistant Management Accountant £25k - £32k £25k - £30k £20k - £30kFinancial Accountant PQ / Finalist £28k - £38k £30k - £40k £28k - £35kAssistant Financial Accountant £26k - £32k £25k - £30k £20k - £30kAssistant Accountant £24k - £30k £25k - £30k £20k - £28kCredit Control Supervisor / Manager £24k - £35k £25k - £35k £25k - £30kCredit Controller £24k - £30k £20k - £25k £18k - £25kAccounts Receivable Supervisor / Manager £33k - £45k £25k - £35k £25k - £30kAccounts Receivable Clerk £22k - £26k £20k - £25k £18k - £22kAccounts Payable Supervisor / Manager £33k - £45k £25k - £35k £25k - £30kAccounts Payable Clerk £24k - £28k £20k - £25k £18k - £22kAccounts Assistant £24k - £27k £20k - £25k £18k - £22k 6
  • 7. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE (SMEs*)PERMANENT BASIC SALARIES (PER ANNUM)Role: London Home Counties Bristol, Cheltenham, Leamington Spa & MidlandsChief Financial Officer £150k - £200k £80k - £120k £50k - £100kFinancial Director £80k - £100k £50k - £70k £50k - £70kFinancial Controller £55k - £65k £42k - £50k £40k - £60kFinancial Planning Analysis Manager £50k - £60k £45k - £60k £40k - £50kFinance Manager £45k - £55k £42k - £50k £40k - £50kBusiness Analyst £43k - £48k £40k - £45k £30k - £40kFinance Analyst £43k - £48k £40k - £45k £30k - £40kSystems Accountant £45k - £55k £44k - £60k £30k - £40kGroup Accountant £40k - £55k £45k - £50k £30k - £40kFinancial Accountant £42k - £45k £42k - £48k £30k - £40kManagement Accountant £42k - £45k £40k - £45k £30k - £40kACA top 10 newly qualified £45k - £48k £44k - £46k £35k - £40kACA non-top 10 newly qualified £40k - £45k £40k - £42k £30k - £35kACMA newly qualified £42k - £48k £38k - £44k £30k - £35kACCA newly qualified £40k - £45k £30k - £44k £30k - £35k*SMEs – up to 500 employees 7
  • 8. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE (SMEs)PERMANENT BASIC SALARIES (PER ANNUM)Role: London Home Counties Bristol, Cheltenham, Leamington Spa & MidlandsCompany Accountant £28k - £40k £28k - £40k £28k - £40kSystems Accountant PQ / Finalist £25k - £30k £25k - £40k £25k - £35kProject Accountant PQ / Finalist £28k - £35k £25k - £35k £25k - £30kBusiness Analyst PQ / Finalist £25k - £38k £20k - £30k £25k - £30kFinancial Analyst PQ / Finalist £22k - £35k £22k - £30k £25k - £30kManagement Accountant PQ / Finalist £26k - £35k £25k - £30k £25k - £30kAssistant Management Accountant £23k - £27k £22k - £28k £20k - £28kFinancial Accountant PQ / Finalist £25k - £33k £25k - £35k £25k - £30kAssistant Financial Accountant £20k - £26k £22k - £28k £20k - £25kAssistant Accountant £22k - £28k £20k - £25k £20k - £25kCredit Control Supervisor / Manager £24k - £35k £25k - £35k £20k - £25kCredit Controller £18k - £24k £18k - £20k £15k - £20kAccounts Receivable Supervisor / Manager £24k - £35k £25k - £35k £20k - £25kAccounts Receivable Clerk £20k - £24k £18k - £24k £15k - £20kAccounts Payable Supervisor / Manager £24k - £38k £25k - £35k £20k - £25kAccounts Payable Clerk £17k - £22k £18k - £25k £15k - £20k 8Accounts Assistant £18k - £24k £18k - £24k £15k - £20k
  • 9. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE (Large companies)TEMPORARY RATES (PER DAY)Role: London Home Counties Bristol, Cheltenham, Leamington Spa & MidlandsChief Financial Officer £600 - £1000 £600 - £1000 £500+Financial Director £400 - £600+ £400 - £600+ £500+Financial Controller £350 - £500+ £400 - £500+ £400 - £500+Financial Planning Analysis Manager £300 - £400+ £300 - £400+ £350 - £400Finance Manager £300 - £400+ £300 - £400 £300+Business Analyst £240 - £350 £250 - £350 £300+Finance Analyst £250 - £350 £250 - £350 £300+Systems Accountant £300 - £500+ £250 - £500+ £250 - £400Group Accountant £250-£350+ £300 - £400 £300+Financial Accountant £250- £350 £250 - £350 £280 - £350Management Accountant £280- £350 £280 - £350 £280 - £350ACA top 10 newly qualified £220 - £275 £240 - £275 £200 - £250ACA non-top 10 newly qualified £200 - £275 £200 - £275 £180 - £250ACMA newly qualified £220 - £260 £240 - £280 £180 - £250ACCA newly qualified £200 - £250 £200 - £250 £180 - £250 9
  • 10. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE (Large companies)TEMPORARY RATES (PER HOUR)Role: London Home Counties Bristol, Cheltenham, Leamington Spa & MidlandsSystems Accountant PQ / Finalist £19 - £25 £25 - £27 £15 - £20Project Accountant £17 - £25 £35 - £40 £15 - £20Business Analyst PQ / Finalist £18 - £24 £25 - £30 £18 - £25Financial Analyst PQ / Finalist £15 - £24 £25 - £30 £18 - £25Management Accountant PQ / Finalist £17 - £24 £25 - £30 £18 - £25Assistant Management Accountant £15 - £18 £25 - £30 £12 - £18Financial Accountant PQ / Finalist £17 - £22 £25 - £30 £15 - £20Assistant Financial Accountant £13 - £17 £25 - £30 £10 - £15Assistant Accountant £15 - £19 £20 - £25 £10 - £15Credit Control Supervisor / Manager £18 - £24 £20 - £25 £15 - £20Credit Controller £14 - £18 £10 - £15 £10 - £12Accounts Receivable Supervisor / Manager £18 - £24 £20 - £25 £12 - £15Accounts Receivable Clerk £12 - £16 £10 - £15 £8 - £12Accounts Payable Supervisor / Manager £15 - £24 £20 - £25 £10 - £15Accounts Payable Clerk £12 - £15 £10 - £15 £8 - £12Accounts Assistant £12 - £16 £15 - £20 £8 - £10 10
  • 11. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE (SMEs)TEMPORARY RATES (PER DAY)Role: London Home Counties Bristol, Cheltenham, Leamington Spa & MidlandsChief Financial Officer £400 - £600 £400 - £600 £400+Financial Director £400 - £500 £400 - £500 £400+Financial Controller £400 - £475 £400 - £500 £250 - £380Financial Planning Analysis Manager £340 - £375 £350 - £400 £250 - £350Finance Manager £325 - £375 £300 - £375 £200 - £250Business Analyst £220 - £300 £220 - £300 £180 - £250Finance Analyst £250 - £330 £250 - £350 £180 - £250Systems Accountant £250 - £400 £250 - £350 £200 - £250Group Accountant £250 - £350 £250 - £350 £200 - £300Financial Accountant £250 - £340 £250 - £350 £180 - £250Management Accountant £250 - £320 £250 - £350 £180 - £250ACA top 10 newly qualified £200 - £240 £200 - £250 £200 - £250ACA non-top 10 newly qualified £190 - £220 £180 - £220 £180 - £220ACMA newly qualified £200 - £250 £200 - £275 £180 - £220ACCA newly qualified £180 - £220 £180 - £220 £180 - £220 11
  • 12. COMMERCE & INDUSTRY.ACCOUNTING & FINANCE (SMEs)TEMPORARY RATES (PER HOUR)Role: London Home Counties Bristol, Cheltenham, Leamington Spa & MidlandsCompany Accountant £15 - £18 £15 - £20 £20 - £25Systems Accountant PQ / Finalist £12 - £16 £14 - £20 £14 - £20Project Accountant PQ / Finalist £15 - £18 £14 - £18 £14 - £20Business Analyst PQ / Finalist £15 - £20 £10 - £18 £14 - £20Financial Analyst PQ / Finalist £12 - £17 £14 - £18 £14 - £20Management Accountant PQ / Finalist £14 - £18 £14 - £18 £14 - £20Assistant Management Accountant £13 - £18 £12 - £15 £10 - £15Financial Accountant PQ / Finalist £15 - £18 £14 - £18 £12 - £18Assistant Financial Accountant £12 - £15 £14 - £18 £10 - £15Assistant Accountant £13 - £16 £10 - £14 £15 - £16Credit Control Supervisor / Manager £15 - £17 £12 - £18 £15 - £18Credit Controller £12 - £15 £9 - £12 £8 - £12Accounts Receivable Supervisor / Manager £14 - £17 £12 - £18 £10 - £15Accounts Receivable Clerk £11 - £13 £9 - £12 £8 - £10Accounts Payable Supervisor / Manager £14 - £17 £12 - £18 £10 - £12Accounts Payable Clerk £11 - £14 £9 - £12 £8 - £10 12Accounts Assistant £12 - £16 £9 - £12 £8 - £10
  • 13. “THERE WAS A 20%INCREASE IN SENIORACCOUNTING ANDFINANCE HIRINGIN Q1 2011COMPARED TO Q42010 IN LONDON.” X 13
  • 14. COMMERCE & INDUSTRY.SHARED SERVICESPERMANENT BASIC SALARIES (PER ANNUM)Role: London, Home Counties & BristolDirector SSC £70k - £140kHead of Shared Services £55k - £85kFinance Group Manager £50k - £75kAccounting General Ledger Manager £50k - £65kGeneral Ledger Team Leader £45k - £55kGeneral Ledger Analyst £35k - £45kFixed Asset Accountant £40k - £55kAccounts Payable / Accounts Receivable Manager £40k - £60kAccounts Payable / Accounts Receivable Team Leader £30k - £45k/ SupervisorAccounts Payable / Accounts Receivable Assistant £16k - £25kCredit Manager / Cash Manager £40k - £60kCredit Supervisor £28k - £40kCredit Controller £18k - £25k 14
  • 15. COMMERCE & INDUSTRY.INTERNAL AUDITPERMANENT BASIC SALARIES (PER ANNUM) Role: London Home Counties Internal Auditor £40k - £45k £35k - £40k Senior Internal Auditor £45k - £50k £45k - £50k Internal Audit Manager £55k - £60k £55k - £60k Head of Internal Audit £60k - £80k £60k - £75k Director of IA / Business Assurance £80k+ £75k+ IT Auditor £45k - £50k £40k - £45k IT Audit Manager £50k - £60k £50k - £60k IT Audit Director £70k+ £70k+ Risk Analyst £45k - £50k £40k - £45k Risk Manager £50k - £70k £50k - £65k Director of Risk £70k+ £70k+ Compliance Analyst £35k - £45k £35k - £45k Compliance Manager £45k - £55k £45k - £55k 15
  • 16. COMMERCE & INDUSTRY.TAXATIONPERMANENT BASIC SALARIES (PER ANNUM)Role: London Home CountiesCORPORATE & INTERNATIONAL TAXTax Director £100k - £250k £100k - £200kHead of Tax £80k - £120k £75k - £100kGroup Tax Manager £65k - £85k £65k - £80kTax Manager £55k - £75k £50k - £70kTax Accountant £40k - £55k £38k - £50kTax Analyst £28k - £40k £25k - £35kVAT & TRANSFER PRICINGDirector £90k - £200k £85k - £150kSenior Manager £70k - £90k £65k - £85kManager £50k - £70k £45k - £65kAccountant £35k - £50k £32k - £45kAnalyst £28k - £35k £25k - £32kFor more information on salary ranges for other areas of taxation (i.e. employment taxes,expatriate tax or operations tax) please contact us directly. 16
  • 17. COMMERCE & INDUSTRY.TAXATIONTEMPORARY RATES (PER HOUR)Role: London & Home CountiesCORPORATE & INTERNATIONAL TAXTax Director £65 - £99Head of Tax £45 - £70Group Tax Manager £35 - £50Tax Manager £30 - £38Tax Accountant £22 - £30Tax Analyst £15 - £22VAT & TRANSFER PRICINGDirector £45 - £70Senior Manager £35 - £50Manager £28 - £35Accountant £22 - £28Analyst £15 - £22For more information on salary ranges for other areas of taxation (i.e. employment taxes,expatriate tax or operations tax) please contact us directly. 17
  • 18. PROFESSIONAL SERVICES.AUDIT & ASSURANCEADVISORY SERVICESCORPORATE FINANCE & RECOVERYTAXATION 18
  • 19. PROFESSIONAL SERVICES.HIRING MARKET UPDATEMARKET SUMMARY This trend extends beyond the Big Four SALARY & COMPENSATION TRENDS and into the mid-tier market. Additionally,The first quarter of 2011 saw confidence On the whole, salaries remained static in Q1 2011 saw hiring levels increasein the UK professional services jobs Q1 2011, except in highly sought after across advisory positions within themarket increase significantly. This was areas. As the supply of talent tightens financial services sector and a stronglargely due to the steady recovery of the further, salaries could increase slightly comeback in the corporate financeeconomy plus a general rise in demand across the board. Evidence of this has market.for qualified accountants with specialist already been seen in firms more willingskill sets. to consider paying a premium for fee TALENT SUPPLY earners as they will in turn become aProfessional services firms are predicting While hiring demand within professional profit centre.steady growth for 2011 and anecdotal services significantly increased in Q1evidence suggests that compliance and Where salary increases have not been 2011, the availability of talent hasadvisory services will be key areas. possible, a number of firms have predictably tightened across allRecruitment is high on the agenda for implemented additional company disciplines. Qualified accountants withmany firms and ensuring the right people benefits such as flexible schemes and track records of clear progression withinare brought on board is essential, holiday allowances. a specialist area and strongparticularly in specialist and niche areas. Alex Lawrie communications skills are starting to see +44 (0)207 092 0023 multiple offers on the table.HIRING TRENDS alawrie@morganmckinley.co.uk Many companies have started to giveThere has been increased hiring activity additional incentives to retain key staff.across all disciplines within the Those professionals who are pursuingprofessional services sector. For career moves are starting to receiveexample, the rise in demand for newly significant uplifts in salary, somethingqualified ACAs and CTAs for audit and that has not been commonly seen in thetax roles respectively has continued in past two years.2011. There has also been an increasednumber of vacancies in specialisms suchas VAT and transfer pricing in the taxmarket, as well as not-for-profit andcorporate finance roles in the audit andadvisory markets. 19
  • 20. PROFESSIONAL SERVICES.AUDIT & ASSURANCEPERMANENT BASIC SALARIES (PER ANNUM) Big Four / Top 20 Small & Medium FirmsExternal Audit: London South East London South EastSenior Manager (5+yrs PQ) £65k - £85k £63k - £80k £60k - £83k £55k - £74kManager (3-5 yrs PQ) £54k - £57k £50k - £65k £48k - £60k £45k - £55kSupervisor/Assistant Manager (1-2yrs PQ) £45k - £52k £43k - £49k £40k - £45k £37k - £45kNewly Qualified Accountant £43k - £46k £38k - £43k £38k - £42k £34k - £38kInternal Audit:Senior Manager (5+yrs PQ) £65k - £85k £63k - £82k - -Manager (3-5yrs PQ) £54k - £70k £50k - £65k - -Supervisor/Assistant Manager (1-2yrs PQ) £45k - £52k £44k - £49k - -Newly Qualified Accountant £43k - £46k £39k - £43k - - 20
  • 21. PROFESSIONAL SERVICES.ADVISORY SERVICESPERMANENT BASIC SALARIES (PER ANNUM)Role: London South EastDirector £80k - £100k £70k - £90kAssociate Director £65k - £80k £55k - £68kSenior Executive/Manager £47k - £60k £44k - £55kExecutive £43k - £48k £40k - £45k 21
  • 22. “THERE HAS BEENINCREASEDHIRING ACTIVITYACROSS ALLDISCIPLINES WITHINTHE PROFESSIONALSERVICES SECTOR.” X 22
  • 23. PROFESSIONAL SERVICES.CORPORATE FINANCE & RECOVERYPERMANENT BASIC SALARIES (PER ANNUM)Role: London South EastSenior Manager (5+yrs PQ) £70k - £85k £65k - £80kManager (3-5yrs PQ) £55k - £70k £53k - £68kSupervisor / Assistant Manager (1-2yrs PQ) £48k - £55k £45k - £50kNewly Qualified Accountant £43k - £46k £40k - £43k 23
  • 24. PROFESSIONAL SERVICES.TAXATIONPERMANENT BASIC SALARIES (PER ANNUM) Corporate Tax Personal TaxTop Tier: London South East London South EastPartner/Director £140k+ £110k+ £90k+ £75k+Senior Manager £75k+ £65k - £95k £60k - £75k £50k - £65kManager £57k - £72k £49k - £64k £45k - £55k £40k - £50kAssistant Manager £45k - £55k £41k - £50k £40k - £47k £38k - £45kSenior £36k - £45k £33k - £41k £29k - £42k £27k - £40kSemi Senior £22k - £33k £20k - £28k £21k - £28k £19k - £27kMid Tier:Partner/Director £95k+ £90k+ £95k+ £90k+Senior Manager £65k - £90k £55k - £70k £55k - £85k £50k - £65kManager £50k - £65k £40k - £55k £45k - £60k £43k - £55kAssistant Manager £45k - £52k £41k - £49k £38k - £45k £36k - £43kSenior £32k - £41k £30k - £38k £27k - £40k £25k - £38kSemi Senior £21k - £30k £19k - £27k £19k - £26k £17k - £25k 24
  • 25. PUBLIC SECTOR.CHARITYHOUSING ASSOCIATIONEDUCATIONGOVERNMENT 25
  • 26. PUBLIC SECTOR.HIRING MARKET UPDATEMARKET SUMMARY associations, there has been a push to SALARY & COMPENSATION TRENDS focus on permanent rather than contractThe last couple of years have seen some In 2009/11 salaries across the board hires to increase team stability. Theredramatic changes in the public sector generally remained stable, with any small have been moves towards businesswith the ‘job for life’ mentality becoming a increases in line or just below increases partnering within finance teams, withthing of the past. However there are in inflation. Some of the biggest salary customer service recognised as andefinitely some rays of light coming reductions were for interim and essential part of job descriptions.through in certain areas. The not-for- temporary rates for top level consultants, Finance professionals now have toprofit sector has been the most resilient particularly for those specialising in ensure they promote their ‘softer’ skills inrecently with charities (especially those Government and NHS due to an addition to their technical knowledge.with large retail and fundraising sections, oversupply of candidates. There are Employers are interested in job seekersand INGOs) seeing growth. Many however still professionals with specific with commercial and /or practicecharities that are dependent on industry knowledge and skills who are backgrounds, although those with aGovernment funding have experienced able to command top rates. combination of private and public sectorcuts, which are unfortunately set to experience are most highly sought after. With recruitment across most sectorscontinue in 2011. picking up in Q4 2010 and Q1 2011, not-Larger housing associations have fared TALENT SUPPLY for-profit organisations in particular havewell, with limited cutbacks and in some started the process of reviewing salaries In 2009/10 there was a marked increasecases, plans for expansion. There has to remain in line with other sectors to in the number of professionals from thebeen a more significant effect on smaller attract top talent. Many organisations commercial and financial sectorsassociations, and mergers or transferring that are unable to increase basic salaries considering roles in the public sector,housing stock to larger associations is a are investigating other innovative with many accepting lower salaries in apossibility. Government, NHS and methods of talent attraction and retention trade off for higher job security. Now,education have been the hardest hit such as improved benefits, and in some with government cuts and higherareas, with cost cutting, mergers, cases, bonus schemes. recruitment levels in commerce andefficiency savings and funding cuts financial services, this trend is being Matt Adamsleading to recruitment cutbacks. reversed. As public sector organisations +44 (0)207 092 0011 find it harder to attract suitable madams@morganmckinley.co.ukHIRING TRENDS candidates, they are often having to beWhere confidence has increased, in flexible in terms of pay or benefits.particular within charities and housing 26
  • 27. PUBLIC SECTOR.PERMANENT BASIC SALARIES (PER ANNUM)Role: Charity Housing Education Government / Association NHSFinance Director (Large co.) £65k+ £80k+ £80k+ £90k+Finance Director (Medium co.) £55k - £70k £60k - £80k £60k - £80k £65k - £85kFinance Director (Small co.) £45k - £60k £50k - £65k £50k - £65k £50k - £70kInternal Audit Manager £50k - £60k £50k - £60k £50k - £60k £50k - £60kGroup Accountant £38k - £50k £45k - £60k £45k - £60k £50k - £70kFinancial Accountant £35k - £45k £38k - £48k £38k - £48k £40k - £50kFinance Controller (Large co.) £50k - £65k £50k - £65k £50k - £65k £60k - £75kFinance Controller (Medium co.) £40k - £55k £40k - £55k £40k - £55k £45k - £65kFinance Controller (Small co.) £35k - £45k £35k - £45k £35k - £45k £35k - £50kTax Manager £40k - £55k £40k - £55k £40k - £55k £40k - £55kFinance Manager £40k - £60k £48k - £65k £40k - £55k £50k - £65kSystems Specialist £35k - £50k £40k - £55k £40k - £55k £40k - £55kInternal Auditor £40k - £50k £40k - £50k £40k - £50k £40k - £50kAnalyst £38k - £45k £40k - £50k £40k - £50k £40k - £50kManagement Accountant £35k - £45k £38k - £48k £38k - £48k £40k - £50kNewly Qualified Accountant £35k - £42k £38k - £45k £38k - £45k £38k - £45kPart Qualified Accountant £28k - £35k £25k - £38k £25k - £38k £25k - £38k 27
  • 28. PUBLIC SECTOR.TEMPORARY RATES (PER HOUR)Role: Charity Housing Education Government / Association NHSFinance Director (Large co.) £40+ £50+ £50+ £55+Finance Director (Medium co.) £35 - £50 £40 - £55 £40 - £55 £40+Finance Director (Small co.) £30 - £45 £35 - £50 £35 - £50 £35+Internal Audit Manager £30 - £35 £30 - £35 £30 - £35 £30+Group Accountant £20 - £40 £25 - £45 £25 - £45 £30+Financial Accountant £18 - £35 £25 - £35 £25 - £35 £25 - £45Finance Controller (Large co.) £30 - £50 £30 - £55 £30 - £55 £40+Finance Controller (Medium co.) £25 - £45 £30 - £50 £30 - £50 £35+Finance Controller (Small co.) £25 - £40 £30 - £45 £30 - £45 £30+Tax Manager £20 - £30 £20 - £30 £20 - £30 £20 - £30Finance Manager £20 - £35 £25 - £40 £25 - £40 £30+Systems Specialist £20 - £40 £20 - £45 £20 - £45 £25 - £50Internal Auditor £25 - £30 £25 - £30 £25 - £30 £25 - £30Analyst £20 - £30 £25 - £35 £25 - £35 £25 - £45Management Accountant £18 - £30 £25 - £35 £25 - £35 £25 - £45Newly Qualified Accountant £18 - £30 £25 - £35 £25 - £35 £25 - £45Part Qualified Accountant £15 - £25 £18 - £27 £18 - £27 £18 - £30 28
  • 29. “THE NOT-FOR-PROFITSECTOR HAS BEENTHE MOST RESILIENTRECENTLY WITH MANYCHARITIES SEEINGGROWTH IN JOBOPPORTUNITIES.” 29
  • 30. BUSINESS SUPPORTOFFICE SUPPORTSALES & MARKETINGHUMAN RESOURCES 30
  • 31. BUSINESS SUPPORT.HIRING MARKET UPDATELONDON Agency Worker Regulations (AWR) is a Stuart Duncan hot topic in the industry right now. The +44 (0)175 320 1457Business support employment trends are sduncan@morganmckinley.co.uk new rules (effective October 2011) willset to remain steady in the next 12 change the way contract workers aremonths, if a little cautious, as the BRISTOL, CHELTENHAM & employed and will impact contractors,economy continues to recover. HR SOUTH WEST agencies and operatives, including thosedepartments were less affected by the working under umbrella schemes. There were significant improvements indownturn than administration andoperations, so the noticeable increase in the business support hiring market in Q1 Danielle Loader 2011. The temporary jobs market inroles in the past six months have been +44 (0)207 092 0042 particular has held up well with over 55%within secretarial, administration, dloader@morganmckinley.co.uksupport, sales and marketing. New of Bristol job opportunities listed aspositions are being created at PA, EA longer-term temporary or contract roles. HOME COUNTIESand office manager levels due to There has been continued demand for During 2010 the Home Countiesincreases in business and workloads, customer services staff, receptionists experienced a positive change to thealthough salaries are stable. and administrators. HR, sales and recruitment landscape for businessSectors that are forecasting increased marketing are also recruitment hotspots support roles. Whilst the traditionalrecruitment activity include IT, as hiring in these areas was relatively markets of secretarial and PAmanufacturing and telecoms. Within the subdued in 2010. Permanent hiring has recruitment remained strong there waspublic sector, charities and membership also increased in 2011 compared to also an increase in demand forbodies are looking stronger, whilst 2010 but not quite at the same rate as professionals across other areas such asGovernment, education and the NHS are the temporary hiring market. From a sales, marketing and HR.still facing challenges. sector perspective there has recently Companies have maintained this focus been notable hiring activity for legal andWhilst there is demand for high calibre on hiring into 2011 and throughout the professional services roles.business support professionals, some remainder of this year economiccompanies are erring on the side of indicators suggest that companies will Tara Heath-Arnoldcaution with a greater focus on contract look to further strengthen their business +44 (0)117 944 0600and temp-to-perm positions. support functions. theath-arnold@morganmckinley.co.uk 31
  • 32. BUSINESS SUPPORT.OFFICE SUPPORTPERMANENT BASIC SALARIES (PER ANNUM)Role: London Home Counties Bristol, Cheltenham & South WestExecutive Assistant £38k - £45k £35k - £40k £28k - £35kPA £28k - £37k £25k - £35k £22k - £28kOffice Manager £27k - £35k £25k - £30k £20k - £35kSecretary (including Legal) £23k - £28k £19k - £25k £17k - £22kSales Support / Administrator £20k - £25k £18k - £24k £16k - £20kReceptionist £18k - £25k £16k - £19k £15k - £17kCustomer Service Supervisor / Manager £25k - £40k £20k - £35k £20k - £35kCall Centre / Customer Service £18k - £22k £16k - £20k £16k - £20k 32
  • 33. BUSINESS SUPPORT.OFFICE SUPPORTTEMPORARY RATES (PER HOUR)Role: London Home Counties Bristol, Cheltenham & South WestExecutive Assistant £16 - £22 £15 - £20 £14 - £17PA / Office Manager £14 - £18 £12 - £17 £10 - £14Secretary (including Legal) £13 - £17 £10 - £12 £9 - £10HR Administrator £12 - £14 £9 - £10 £8 - £10Sales Support / Administrator £10 - £12 £9 - £11 £8 - £10Receptionist £8 - £11 £7.50 - £9 £7 - £8Customer Service £8 - £10 £7 - £9 £7 - £8Data Entry / Filing Clerk £8 - £10 £7 - £8 £7 - £8 33
  • 34. “OVER 55% OFBRISTOL JOBOPPORTUNITIESARE LONGER-TERMTEMPORARY ORCONTRACT ROLES.” X 34
  • 35. BUSINESS SUPPORT.SALES & MARKETINGPERMANENT BASIC SALARIES (PER ANNUM) Role: London Home Counties Bristol, Cheltenham & South West Head of Marketing £60k - £100k £40k - £70k £40k - £60k Marketing Manager £50k - £70k £30k - £40k £30k - £35k Marketing Executive £25k - £45k £22k - £30k £20k - £25k Marketing Assistant £18k - £30k £18k - £22k £15k - £20k Communications Executive £25k - £35k £25k - £35k £25k - £32k PR Officer £25k - £35k £25k - £32k £25k - £30k Digital or Online Marketing Executive £30k - £40k £28k - £35k £25k - £32k Web Designer £25k - £45k £22k - £30k £20k - £25k 35
  • 36. BUSINESS SUPPORTHUMAN RESOURCESPERMANENT BASIC SALARIES (PER ANNUM) Role: London Home Counties Bristol, Cheltenham & South West HR Business Partner £55k - £70k £35k - £50k £35k - £50k HR Manager £40k - £55k £35k - £40k £35k - £40k HR Officer / Advisor £28k - £38k £25k - £35k £25k - £35k L&D Co-ordinator £28k - £38k £27k - £35k £27k - £35k Training Co-ordinator £25k - £32k £22k - £28k £22k - £28k HR Co-ordinator £25k - £32k £22k - £25k £22k - £25k Internal Recruiter / Talent Acquisition £28k - £38k £25k - £35k £25k - £35k HR Assistant £18k - £24k £18k - £22k £18k - £22k Recruitment / HR Administrator £18k - £22k £17k - £21k £17k - £21k 36
  • 37. SALARY GUIDE | ACCOUNTING, FINANCE & SUPPORT | UK 2011. UNDERSTANDING THIS GUIDESALARY DATA: SALARY GUIDE INFORMATIONThe salary ranges in this guide are indications of For more specific salary or hiring information, pleasewhat individuals with similar experience might visit www.morganmckinley.co.uk or contact yourexpect to earn in new roles in 2011. This salary Morgan McKinley consultant directly.data is based on placements made during the lastsix months, as well as the specialist knowledge ofMorgan McKinley’s consultants.Salaries listed cover basic salaries only and do notinclude bonus payments or benefits. This is due tothe variety of ways in which employers manage payand reward.Please note, the information presented in thisdocument should be used as a general guide only.In order to match candidates to the right careeropportunity for them, Morgan McKinley assessesindividuals on all their skills and abilities whendeciding on their suitability for roles with our clients. © 2011 Morgan McKinley Group Ltd all rights reserved. Copy or reproduction Visit www.morganmckinley.co.uk for more information of this material is strictly prohibited. 37
  • 38. WE ARE MORGAN McKINLEY.TALK TO US.The world’s leadingemployers and successfullocal businesses must bedoing something right. Webelieve we know what that is.Hong Kong Japanhk@morganmckinley.com.hk japan@morganmckinley.co.jp+852 3907 3907 +813 5403 7073Australia Netherlandssydney@morganmckinley.com.au amsterdam@morganmckinley.nl+61 (0)2 8986 3100 +31 (0)20 794 1995China Singaporeshanghai@morganmckinley.com singapore@morganmckinley.com.sg+86 21 5108 1200 +65 6557 4655Dubai United Kingdomdubai@morganmckinley.com london@morganmckinley.co.uk+971 (0)4 329 7770 +44 (0)20 7092 0000Irelandireland@morganmckinley.ie+353 (0)1 4321555 38

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